Liveview is how you can debug and inspect your Freshpaint instrumentation.
With liveview, you can see all the raw actions your users are performing on your site as well as when a specific event definition is performed on your site. You can even use live view to define events based on the raw actions performed.
The time machine let's you send old data that matches a newly created event definition to a destination. Freshpaint automatically collects every user action on your site once installed. If you create a new event definition six months after installing, you can use the time machine to send every user action ever performed on your site that matches the event definition to a destination.